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Currency Market Analysis

Aug 17, 2020 | Currency Market Analysis

Global Themes

USD slips as Wall Street, gold falls

The US dollar was weaker on Friday as creeping nervousness weighed on major markets like US shares and precious metals.

The inability for US politicians to agree to a new stimulus program, tied with the delays to US-China trade talks, saw equity markets weaken.

The US’s S&P 500 and Nasdaq were both down around 0.1%. The Dow was moderately higher. Gold fell 0.5%.

Weaker

The US dollar was mostly lower on this news with its most obvious losses versus major currencies like the euro and

Japanese yen.

The USDSGD fell 0.1%.

The EURSGD and JPYSGD were both higher.

The NZD continued to fall after last week’s move to expend monetary stimulus from the Reserve Bank of New Zealand.

The AUDSGD saw small gains with the pair up 0.2%.

Central banks

Central banks are in focus this week with the Reserve Bank of Australia minutes due on Tuesday and the US Federal Reserve minutes due on Thursday.

On Friday, the latest PMI numbers (purchasing manager index) are due. These numbers provide an up-to-date reading of the global economy.


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